Producer Prices Index: Type of Goods: Durable Consumer Goods: Total for Norway
PITGCD01NOM661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
143.70
Year-over-Year Change
12.79%
Date Range
1/1/1995 - 1/1/2023
Summary
The Producer Prices Index: Type of Goods: Durable Consumer Goods: Total for Norway measures the wholesale prices of durable consumer goods produced in Norway. It is a key indicator of inflationary pressures and production costs for the Norwegian economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This index tracks the changes in selling prices received by domestic producers for their output of durable consumer goods. It is used by economists and policymakers to analyze trends in producer inflation, monitor industrial production, and inform monetary and fiscal policy decisions.
Methodology
The data is collected through surveys of Norwegian manufacturing firms and calculated by Statistics Norway.
Historical Context
The producer price index is closely watched by the Norges Bank, Norway's central bank, to assess inflationary conditions and guide monetary policy.
Key Facts
- The base year for this index is 2015 = 100.
- Norway is a major producer and exporter of durable consumer goods.
- Producer prices can lead consumer prices in signaling inflationary trends.
FAQs
Q: What does this economic trend measure?
A: This index measures the wholesale prices received by domestic producers for their output of durable consumer goods in Norway.
Q: Why is this trend relevant for users or analysts?
A: The producer price index is a leading indicator of inflationary pressures and an important input for monetary policy decisions by the Norges Bank.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Norwegian manufacturing firms and calculated by Statistics Norway.
Q: How is this trend used in economic policy?
A: The producer price index is closely monitored by the Norges Bank to assess inflationary conditions and guide its monetary policy decisions.
Q: Are there update delays or limitations?
A: The producer price index data is published monthly with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Producer Prices Index: Type of Goods: Durable Consumer Goods: Total for Norway (PITGCD01NOM661N), retrieved from FRED.